The board of directors of Styland Holdings Limited announced that the following Directors have resigned with effect from 31 March 2020: in order to devote more time to pursue his own business development, Mr. Zhao Qingji has resigned as an independent non-executive Director and a member of the audit committee, remuneration committee and nomination committee of the company; as his other personal engagement requires more of his time and attention, Mr. Lee Kwok Yin Denthur has resigned as an independent non-executive Director and a member of the audit committee, remuneration committee and nomination committee of the company; in order to devote more time to pursue her other career development, Ms. Zhang Yuyan has resigned as an executive Director of the company; and in order to devote more time to focus on her other business commitments, Ms. Chen Lili has resigned as an executive Director of the company. With effect from 31 March 2020, Mr. Zhao would also resign as the non-executive chairman of the company and Mr. Li Hancheng would be appointed as the non-executive chairman of the company. Mr. Li is currently an independent non-executive Director of the company and a member of the audit committee, remuneration committee and nomination committee of the company. Mr. Li had previously worked at the Supreme People's Court of the People's Republic of China as a senior judge. He possesses extensive experience and practice in law. Mr. Li is a lawyer and the senior partner of the Beijing S&P Law Firm. He is also a member of China Maritime Law Association, Chinese Lawyers Association and Beijing Lawyers Association. Mr. Li is an independent non-executive director of China Minsheng Banking Corp. Ltd. He is also an outside director of Beijing Electronics Holding Company Limited.